30 votes

Peter Schiff responds to Paul Krugman: "Let's hire more teachers and fill potholes !"

Enjoy:

http://youtu.be/gphUhnOfhCc

My own comment:

First off: thank you, Peter.

Second: you've got to admire the complete FRAUD Mr. Krugman is. Seriously. Amazing.

HYPOCRISY AND INCOMPETENCE in flesh and bones.

Great job from Peter at debunking the Keynesian fraudster who will never reckon his own theories' FAILURES.

That would almost be hilarious if it were not UTTERLY SAD AND REVOLTING, in fact.



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Krugman is a Neo-Con fraud and idiot

He also styles himself a gun control expert:
http://www.dailypaul.com/273155/gun-owners-are-insane-paul-k...

Cyril's picture

Goodness... (if I dare say)

Goodness... (if I dare say)

Yeah, right. I told you: UNIQUE, he is!

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Philosophy vs. Psychology

Free market philosophy recognizes the balance of two driving forces: Greed and Risk. The balance is maintained by restricting coercive individuals and corporations. Voluntary exchange let's each party mind their own desires and hazards.

Who is not greedy for liberty in market transactions.

Defense against coercion creates a risk to an individual that would steal candy from a baby. The free press can report his ill deeds. Other individuals would be wary about making voluntary trades with a known thief.

Keynesian psychology are intended as a means to the ends of a taxable economy.

Towards that end governments create propaganda tools

We have a monetary policy (monetary propaganda )
Fiscal policy (Fiscal propaganda )
National Security Policy or Propaganda.
Banking policy, Defense policy, Drug policy, Energy policy, Wage policy aka propaganda. Government has dozens of tools to increase and maximize it's income through taxation.

Often that means regulating competitors of the Federal Reserve family of Companies in order to maximize the the franchise tax paid by the cartel members. Risks were reduced by Congress by guaranteeing 6% profit after expenses on paid in reserves. Above that is the franchise tax collected.

Policy papers are produced to help Congress with their targeting.

The consumer is affecting tax revenues, so they are targeted with handouts that have produced record profits for the banks involved (JP MOrgan).

Congress trades Treasuries as collateral with Federal Reserve members for Federal Reserve promissory notes. In the paper trade, Congress makes a promise to pay par for Federal Reserve Accounting Unit Dollars created out of thin air.

The Trillion dollar coin, the endless wasteful projects, consumer confidence, falsified economic numbers, minimum wage laws all to increase tax revenues.

Keynesian Economics is the psychology of playing people for suckers.

Great rebuttal, Peter. (BTW graying hair is a copper deficiency, Dr. Joel Wallach can also help you help your dad. Prison food has left pops mineral deficient. Wallach beat the FDA 4 times in court. He's a friend of liberty.)

Free includes debt-free!

Cyril's picture

Fair assessment - thank you

Fair assessment - thank you for your thoughts - to which you can a few more from Ron Paul's End the Fed, and G. Edward Griffin:

* a systemic view of economics become so absurd by and thru the moral hazards it perpetuates that even Congress, itself, can "afford" to NOT understand any longer after one generation of politicians post-1971 ... what REAL money even consist in, delegating this new knowledge "exclusivity" to the gang of crooks of the Fed

* rent-seeking bureaucrat, lobbyist, cronies takeover (consequence of the former)

* in the end, a Broken Window Fallacy that keeps repeating itself in loops as the policy making and failures are "justified" in a gibberish of "reforms", "plans", calling always more of the same ... spreading statist management with less and less accountability

* (a point made by G. Edward Griffin) the collectivist fallacy - for the policy making of the same kind - that sees "social (or economical) groups" as relevant and legitimate finally debunked: from Griffin's view point, which does make a lot of sense, "groups" don't even exist: they are an abstraction that the statist arbitrary creates to serve whatever purpose they see fit - you can touch a tree, but the forest is a concept, you cannot touch it as a whole - likewise, groups' "rights" (entitlements) sacrificing the real rights of the individual become INDEFENSIBLE, not only economically, but morally, and hence, politically

Now we have to keep educating the masses about all that...

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Very good. Fleshing out the details.

Griffin may have something. All the collectivist thinking at the Daily Paul.

Libertarians have to behave better. Tea Parties are all neocons. Catholics all have pedophilic tendencies. Atheists are without god. Ran Paul lovers.
Rand Paul haters. And on and on...

Define and label a collective. Describe it as 'us or them'. And finally pass judgement.

For me, Tolkien's Treebeard said it best. "I am not on anybody's side, as no one is entirely on my side."

It shows me that collectivism is illogical.

Free includes debt-free!

Cyril's picture

On Griffin's point:

On Griffin's point:

it's all here:

http://www.dailypaul.com/272841/new-amazing-author-g-edward-...

a great interview, on a casual tone, albeit with heavy, very meaningful content. A must-listen and to-ponder-about, IMO.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Video at DP link denied me access. FYI.

This one works http://www.youtube.com/watch?v=lBn0nsem-jE&feature=youtu.be

Free includes debt-free!

Cyril's picture

Ok. Granted, I didn't even check

Ok. Granted, I didn't even check today. Thanks for the alternate URL!

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Apparently Krugpot is also a Luddite

http://www.huffingtonpost.com/2013/02/02/paul-krugman-rise-o...

Normally I avoid name-calling, but considering Krugpot makes a living by selling logical fallacies in order to attack free-enterprise, I think it is necessary.

Cyril's picture

Krugman. Or -pot. Yes, he is quite UNIQUE.

Krugman. Or -pot. Yes, he is quite UNIQUE.

Besides the obvious FRAUD he is, I also have this ever going inner conflict to decide myself between "idiot", "moron", or "imbecile".

This guy, and others of the same school, will serve you whatever b.s. it takes to attract attention on their "thesis" and sound intelligent. Fact of the matter is, Economics is so very simple to understand as long as you don't try to manage all of it :

http://www.dailypaul.com/271610/cows-economics-throughout-th...

(for something lighter ;)

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Spend, spend, spend!

I have come to the conclusion that fiscal liberals are correct. The Dow hit 14,000, the housing market is seeing a turn around, Europe is recovering, etc. There is no punishment for over-spending for the U.S. in the near future. Therefore, Mr. Schiff's take on any future economic collapse is just guess work.

It seems that the liberals have won the social and fiscal arguments - their positions seem to be right.

Cyril's picture

Of course ! Nobel Laureate, you know !

Of course ! Nobel Laureate, you know !

You can't fight that !

http://www.dailypaul.com/271915/i-have-posted-this-on-mr-kru...

;)

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

I agree with Krugman

This Shift guy just don't get it.
I'm on welfare, food stamps, and medicaid, and I always vote democrat, cause I need the government to take care of me. They've got plenty of money, and besides, its the responsibility of society to help those who need it.
The kids need more teachers, and it ain't costing you nothing, the government pays for it.
And these potholes need to be fixed - man, you know how many times I've had to align the front end on my BMW.

lol @ the punchline

M3? Niiice

Cyril's picture

BUMP.

BUMP.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

LMAO ! :))

LMAO ! :))

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

scawarren's picture

LOL

LOL

It is easier to fool people than to convince them that they have been fooled. – Mark Twain

Peter Schiff

Has no mercy on statist hacks like Krugman. I will enjoy watching this.

It's all so pathetic ..

Following this over a long period of time is so sad.

Krugman is a character straight out of an Ayn Rand novel:

He's one of those intellectually bankrupt phonies that hang out at cocktail parties in a decaying society, where the simple truth is buried under the smothering self-centered myopic arrogance of the elites.

As we enter the final days of the collapse of Empire, Krugman is the supposedly "the best we've got" because our country has decayed so far that these are the people the establishment elevates up for the ignorant to follow.

This is why they gave him the Nobel prize. Not because he's an intellectual giant.

But rather because the puppet masters want a pied-piper that the ignorant masses will follow over the cliff. By giving him the "Prize" -- making him the "Lord of the Times Financial Section" -- these things 'brand' him as an 'expert' that the average and clueless with no foundation will take seriously.

"He must know what he's talking about. Because I sure as hell don't understand any of it". they think to themselves.

And when other people are in the room, they nod along with him as if they understand and agree with what he's saying. To make themselves appear to be 'with the program' and 'modern' and (aka not clueless and stupid with no intellectual foundation aka as they really are).

Meanwhile they don't understand a word of it.

This is his role. It's deliberate.

He's a plant, meant for stupid people that don't think for themselves or bother to do a shred of critical research or thought.

A plant: Fed award winning bull manure. Watered w/ liquidity.

Plenty of sun shining in (absorbing limelight). 20 mule teams strain under wagon trains full of manure... from the prizing winning bulls. The key ingredient to his propagandistic sewage is the exceptional printing of liquidity... printed especially for him.

Caution: Use of filters recommended for those using water & other liquidity downstream.

The Fed cash flow: Libation for the money-gods & their propagandists.

The Fed: Loaning you blind, since 1913.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

W-w-w-w-wait....

Government programs are 100% responsible for food stamps/poverty?

It's a little more complex than that. Wouldn't we say a globalizing labour force is having as much or more to do with wage deflation?

Further, Peter equates purchasing power with stuff-consumer items when the greatest challenge to anyone in poverty is to gain ownership of productive resources: land, buildings, businesses, investment capitol. With growing population AND wealth disparity we have a growing gap between those who own the resources and those who don't. Wealth is becoming more hereditary not less and this effect is compounded by corporatism.

The inflationary effects of bailout and monetizing debt are well known to all of us as is the "supercaste" of people who literally get to print their own free money.

Given present circumstances I see no way but to continue and even increase food subsidies for the general masses. Even if people started feverishly gardening every lawn and alley today, peak results would still be 5 years out. The alternatives is witness mass starvation along with attendant crimes/lawlessness.

"The poor are lazy" ain't the easy blow-off it used to be.

Be brave, be brave, the Myan pilot needs no aeroplane.

Cyril's picture

Government programs aren't 100% responsible for misery, granted.

Government programs aren't 100% responsible for misery, granted.

Only 95% of it.

Okay, j/k.

More seriously. It's not WITH TONS, literally TONS of NON-SENSICAL REGULATIONS and "government programs" that you create ANY wealth, ANYWAY.

What Peter Schiff was saying is: get government out of the way TO HAVE PEOPLE CREATE, PRODUCE, and ACQUIRE "more stuff". I grant you Peter simplified it. But NOT AS MUCH AS FOR THE FRAUDULENT, RETARDED SCHEME Krugman proposed:

Indeed, ALL WHAT Krugman was saying is:

just hire more teachers and fill potholes, can be done in no time, and will solve all this misery.

Never mind THAT EVERY-THE FREAKING-BODY has PRECISELY been applying HIS ECONOMIC POLICIES and HIS VIEWS for the last 2 decades here and in Japan, Spain, Greece, you name it !

Printing money out of thin air. Government spendings always to be justified. Public debt. No incentive for savings. Controlled interest rates (near zero, systematically).

FRAUD. FAILURE. FRAUD. INSULT TO INTELLIGENCE.

FAILURE.

That's what Mr. Krugman is.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Krud man

=banker's stooge.

Hilarious!

Peter +1 for going into more details.

His name is Edward Snowden

What is Capitalism?
http://youtu.be/yNF09pUPypw

Cyril's picture

I know!! INSANE, isn't it?!

I know!!

INSANE, isn't it?!

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius